I wouldn't worry to much about AAPL.
It's been hit hard as investors are fleeing
to perceived safer havens (large caps, MSFT,
bonds), but the fundamentals are still intact
and getting better. Market share is increasing,
iMacs are selling fast, and rumor has
it that they are having no trouble meeting
iMac demand (can't remember where I read that).
Furthermore, Apple's advertising campaign will
serve to keep the stock in the minds of wall
street, and I don't think that we will have
the problem of the story going unrecognized.
I'm not sure where I stand on the issue of
earnings, but I'm reasonable sure that revenues
are going to be up substantially. Also, Jobs & Co.
appear to have a master plan that so far has
been working out well.
I see support in the 33-35 area, as that would
be the point when the momentum players started
to pile on and drive the price up. Now that they
are scared off, the rest of the constituency is
long termers that are more likely to be paying
attention to the big picture. JMHO.
The chart doesn't look all that bad either. AAPL
hasn't broken the trend line (12-30-97 12.75 to
6-19-98 26.75), and it's still looking good against
moving averages longer than 30 days.
We seen a little lukewarm press in the past few days,
but when compared to the vicious anti-apple articles
of the past, they don't seem so bad... That is, is
this all they can find to complain about?
So I closed my eyes and held my breath and bought
more calls today. I can't take much more of this
though. I hope it's over soon.
Lee |
